Exhibit 12.1
The Scotts Miracle-Gro Company
Computation of Ratio of Earnings to Fixed Charges(1)
($ IN MILLIONS) | Three Months Ended | Fiscal Year Ended September 30, | ||||||||||||||||||||||||||
December 31, 2011 | January 1, 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
Loss from continuing operations before income taxes | $ | (115.5 | ) | $ | (104.0 | ) | $ | 194.8 | $ | 319.9 | $ | 208.1 | $ | 47.6 | $ | 200.4 | ||||||||||||
Fixed charges | 21.1 | 15.2 | 77.2 | 69.4 | 77.7 | 104.2 | 95.2 | |||||||||||||||||||||
Other(2) | 0.1 | 0.1 | 0.5 | 0.5 | 0.8 | 0.7 | (0.5 | ) | ||||||||||||||||||||
Interest Capitalized | (0.2 | ) | (0.3 | ) | (0.9 | ) | (0.8 | ) | (0.4 | ) | (0.4 | ) | (0.4 | ) | ||||||||||||||
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Total adjusted earnings available for payment of fixed charges(3) | $ | (94.5 | ) | $ | (88.9 | ) | $ | 271.6 | $ | 389.0 | $ | 286.2 | $ | 152.1 | $ | 294.7 | ||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 15.3 | $ | 9.5 | $ | 53.9 | $ | 46.8 | $ | 56.4 | $ | 82.2 | $ | 70.7 | ||||||||||||||
Interest Capitalized | 0.2 | 0.3 | 0.9 | 0.8 | 0.4 | 0.4 | 0.4 | |||||||||||||||||||||
Rental expense representative of interest factor | 5.6 | 5.5 | 22.4 | 21.8 | 20.9 | 21.6 | 24.1 | |||||||||||||||||||||
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Total Fixed Charges | $ | 21.1 | $ | 15.2 | $ | 77.2 | $ | 69.4 | $ | 77.7 | $ | 104.2 | $ | 95.2 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | (4) | (4) | 3.5 | 5.6 | 3.7 | 1.5 | 3.1 |
(1) | Discontinued operations are excluded from all amounts. |
(2) | Includes amortization of capitalized interest and distributed earnings of equity investees and affiliated companies. |
(3) | Interest expense recorded on tax exposures has been recorded in income tax expense and has therefore been excluded from the calculation. |
(4) | Losses were inadequate to cover fixed charges by (in millions): $115.6 for the three months ended December 31, 2011; $104.1 for the three months ended January 1, 2011. |